SGX Nifty indicates flat to positive opening for Indian markets

2 Feb 2022 , 07:42 AM

SGX Nifty is at 17,715.50 levels, higher 84.00 points. (Updated at 7:42 AM)

The Nifty saw a strong close for 2nd day running as budget proposals saw a positive rub off with metals, banks & infra stocks leading the gainers.

PSU banks & auto stocks saw profit booking while the broader markets saw gains with the Nifty next 100 seeing gains of over 1.74%.

The breadth was positive with short covering/value buying evident across the board today.

US Market: US markets see gains for 3rd day running as Alphabet earnings beat estimates with Dow Jones closing higher by over 270 points & Nasdaq higher by 100 points.

Oil prices fall over 3% while US$ falls to 96.25, with bond yields closing flat @ 1.79%.

Asian Market: Asian markets opened in the green led by the Japanese ‘Nikkei’ which traded higher by over 430 points in early trade as most Asian markets react positively to US cues.

Australia & New Zealand markets were also trading higher by over 1% as the Lunar holidays this week sees most other markets remain closed.